nnuut
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Taxes Taxes, do you really think they will go DOWN?
McCain, Obama and your tax bill
The financial crisis may have taken center stage, but the candidates are still pushing their April 15 policies.
By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: October 29, 2008: 12:20 PM ET
See chart on link!! http://money.cnn.com/2008/10/29/news/economy/candidates_tax_plans/index.htm?postversion=2008102912
BREAKING DOWN THE NUMBERSHere's how average tax bills could change in 2009 if the candidates' tax proposals were fully in effect.* An average decline doesn't mean everyone's bill in a given group would fall, nor does an average increase imply everyone's bill goes up.(http://i.cdn.turner.com/money/.element/img/2.0/buttons/circle_arrow.gif) no-repeat
NEW YORK (CNNMoney.com) -- Tax breaks, tax breaks, tax breaks. For months now, Barack Obama and John McCain have promised voters that they will lessen the financial burden on Americans - even as the economic crisis worsens and the country racks up record deficits.
McCain, who wants to extend President Bush's tax cuts for everyone, says repeatedly that now would be the worst time to raise taxes.
"Raising taxes makes a bad economy much worse," McCain said on Tuesday."Keeping taxes low creates jobs, keeps money in your hands and strengthens our economy."
Obama, who would repeal some of the Bush tax cuts but only for the highest income taxpayers, says now more than ever the middle class needs help.
"If you make under $250,000, you will not see your taxes increase by a single dime - not your income taxes, not your payroll taxes, not your capital gains taxes, nothing," Obama said Tuesday. "Because the last thing we should do in this economy is raise taxes on the middle class."
Even before the financial meltdown, budget experts were expressing concerns about the cost of both candidates' tax proposals - which go well beyond just extending tax cuts enacted under Bush.
The nonpartisan Committee for a Federal Budget, excluding the tax-related parts of the candidates' health care proposals, estimates that McCain's tax plans could increase the federal deficit by over $400 billion annually by 2013 and Obama's could increase it by $360 billion.
On top of that, they have both called for additional temporary tax cuts to be put in place as part of any economic stimulus package that lawmakers might consider in the coming weeks or months to jolt the economy. [more]
http://money.cnn.com/2008/10/29/news/economy/candidates_tax_plans/index.htm?postversion=2008102912
McCain, Obama and your tax bill
The financial crisis may have taken center stage, but the candidates are still pushing their April 15 policies.
By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: October 29, 2008: 12:20 PM ET
See chart on link!! http://money.cnn.com/2008/10/29/news/economy/candidates_tax_plans/index.htm?postversion=2008102912
BREAKING DOWN THE NUMBERSHere's how average tax bills could change in 2009 if the candidates' tax proposals were fully in effect.* An average decline doesn't mean everyone's bill in a given group would fall, nor does an average increase imply everyone's bill goes up.(http://i.cdn.turner.com/money/.element/img/2.0/buttons/circle_arrow.gif) no-repeat
NEW YORK (CNNMoney.com) -- Tax breaks, tax breaks, tax breaks. For months now, Barack Obama and John McCain have promised voters that they will lessen the financial burden on Americans - even as the economic crisis worsens and the country racks up record deficits.
McCain, who wants to extend President Bush's tax cuts for everyone, says repeatedly that now would be the worst time to raise taxes.
"Raising taxes makes a bad economy much worse," McCain said on Tuesday."Keeping taxes low creates jobs, keeps money in your hands and strengthens our economy."
Obama, who would repeal some of the Bush tax cuts but only for the highest income taxpayers, says now more than ever the middle class needs help.
"If you make under $250,000, you will not see your taxes increase by a single dime - not your income taxes, not your payroll taxes, not your capital gains taxes, nothing," Obama said Tuesday. "Because the last thing we should do in this economy is raise taxes on the middle class."
Even before the financial meltdown, budget experts were expressing concerns about the cost of both candidates' tax proposals - which go well beyond just extending tax cuts enacted under Bush.
The nonpartisan Committee for a Federal Budget, excluding the tax-related parts of the candidates' health care proposals, estimates that McCain's tax plans could increase the federal deficit by over $400 billion annually by 2013 and Obama's could increase it by $360 billion.
On top of that, they have both called for additional temporary tax cuts to be put in place as part of any economic stimulus package that lawmakers might consider in the coming weeks or months to jolt the economy. [more]
http://money.cnn.com/2008/10/29/news/economy/candidates_tax_plans/index.htm?postversion=2008102912
where is five tears and that monster camino we need a rope
